Michael Somers appointed president of the Institute of Directors in Ireland
The former chief executive of the National Treasury Management Association (NTMA) has been appointed president of the Institute of Directors in Ireland.
Dr Somers, who is chairman of Goodbody stockbrokers and deputy chairman of AIB, takes up the position for a two-year term.
He succeeds Des Lamont following the completion of Mr Lamont’s two-year term leading the board of the Institute, which has a membership of over 2,600 directors and senior executives and is Ireland’s leading advocate for best practice in corporate governance.
“The role of director is evolving at a faster pace than ever before. New regulations have come into force in recent years and more are coming in the near future. This means directors need to be well informed about the greater degree of responsibility and professionalism required of them,” Dr Somers said.
Dr Somers went on to say that the institute would play a “crucial role” in providing support to directors in this time of change though training, events, and publications.
Dr Somers, who was CEO of the NTMA from 1990 until the end of 2009, has also served as Commissioner of the National Pensions Reserve Fund and Chairman of the National Development Agency.
He was previously Secretary General of the Department of Defence from 1985 to 1987 and among many achievements chaired the EU group that established the European Bank for Reconstruction and Development.